The Hourly View for Euro Stoxx 50
- At the moment, SX5E’s price is up 42.49 (1.04%) from the hour prior.
- This is a reversal of the price action on the previous hour, in which price moved down.
- Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
- Price action traders may also wish to note that we see a pin bar candlestick pattern on Euro Stoxx 50. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
- Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, so that price is now turning above it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
Euro Stoxx 50’s hourly price chart is shown below.
The Daily View for Euro Stoxx 50
- At the time of this writing, SX5E’s price is up 53.88 (1.33%) from the day prior.
- This move is a reversal from the day prior, which saw price move down.
- As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
- Of note is that the 50 day changed directions on SX5E; it is now pointing up. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
Below is a daily price chart of Euro Stoxx 50.
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